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Market
Will Covestro's stock price increase by more than 10% by October 31, 2024, following the acquisition announcement?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Stock market data from reputable financial sources like Bloomberg or Reuters
Story
ADNOC Reaches €11.7 Billion ($13 Billion) Deal to Acquire Germany's Covestro in Record Middle Eastern Takeover
Sep 30, 2024, 09:45 PM
Abu Dhabi National Oil Company (ADNOC) has reached a deal to acquire Covestro, a German chemical producer, for about €11.7 billion ($13 billion), according to people familiar with the matter. The acquisition, which aligns with ADNOC's strategy to expand into chemical production, is set to be the biggest Middle Eastern acquisition of a European firm. The Wall Street Journal reports that the deal is imminent.
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Increase by more than 10% • 25%
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